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Balance Transfer Credit Cards
Balance transfer credit cards are designed to allow consumers to transfer a higher interest credit card balance onto a credit card with a lower interest rate, which can help save money in finance charges.
When you transfer a balance to a card with a low introductory APR of 0%, the APR will typically stay at this 0% interest level for a specified period of time (assuming you make all your card payments on time), potentially saving you hundreds or even thousands of dollars in interest charges when you compare cards side by side.
At CreditCardAssist.com, we have provided a variety of tips, advice and free information to help guide you in your search to find the top balance transfer card offers available. When you search and compare cards you should start by asking the following questions:
- When will the intro rate on the balance transfers credit card offers expire?
- Does an annual fee apply for the card?
- Will the introductory rate apply to the initial transfer only? Or will it apply to all transfers made over the introductory period?
- Will the introductory rate apply to purchases as well?
- What is the credit card balance transfer interest rate (APR) after the introductory rate ends?
- Are there any applicable transaction fees?
Some credit card issuers will charge expensive transaction fees on balance transfers. Be sure to investigate any applicable fees upfront. You don't want to get surprised with a 3% or 4% transaction fee after the fact. Keep in mind that balance transfer credit card offers are most suitable for individuals with good to excellent credit. Not everyone will qualify for the low "teaser" rate being offered on the card. Be sure to know what introductory rate will apply before you make the initial transfer. So, be sure to thoroughly read the terms and conditions of each specific card offer that you are considering.
Best Balance Transfer Credit Cards - Reviews
If you carry large monthly card balances, this type of card offer is a great way to save money right away and long term especially if you don't switch credit cards often and are looking for one main card to use for the long term. We have listed a variety of the very best balance transfer cards available below.
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Citi® Platinum Select® MasterCard® |
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- 0% Intro APR on Balance Transfers for 18 months and 0% Intro APR on purchases for 12 months. After that, the APR will be 11.99%-19.99% based upon your creditworthiness. This APR will vary with the market based on the Prime Rate.*
- Extra Cash from Citi: enjoy discounts on gift cards,travel, merchandise and more
- Citi® Identity Theft Solutions
- Secure, free online account management
- No annual fee
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Intro APR
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Intro APR Period
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Regular APR
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Annual Fee
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Balance Transfers
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Credit Needed |
0%*
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18 Months on Balance Transfers
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11.99% - 19.99%* (Variable)
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None*
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Yes*
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Excellent Credit*
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Editor's Review:
Some of the best attributes about the Citi® Platinum Select® MasterCard® are the balance transfer features. The 0% intro APR is good for 18 months on balance transfers and is applicable for the first 12 months on purchases as well. This is a nice added feature for those who anticipate a need for a low ongoing APR for upcoming purchases throughout the year
...more info
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Capital One® Platinum Credit Card |
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- 0% intro APR Until August 2011 on Balance Transfers, Processed in as Little as
48 Hours
- 0% intro APR Until August 2011 on Purchases
- Transfer Your Higher-Rate Balances
- $0 Fraud Liability if Your Card is Lost or Stolen
- 24-Hour Travel & Emergency Assistance Gives You a Replacement Card and
Cash Advance
- 24-Hour Roadside Assistance
- Travel Accident Insurance
- No Annual Fee
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Intro APR
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Intro APR Period
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Regular APR
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Annual Fee
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Balance Transfers
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Credit Needed |
0% on Purchases, Balance Transfers*
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Until August 2011*
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14.90%* (V)
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None*
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Yes*
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Good Credit*
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Editor's Review:
The Capital One® Platinum Credit Card is designed for people with good credit who want a card with a competitive APR and great benefits. The best feature of this card is the 0% introductory APR on purchases and balance transfers until July 2011.
...more info
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Discover® More(SM) Card |
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- No Annual Fee
- 0% intro APR on balance transfers for a full 15 months, then the Regular APR
- 0% intro APR on purchases for a full 6 months, then the Regular APR
- 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
- Up to 1% unlimited Cashback Bonus on all other purchases
- No Annual Fee
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Intro APR
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Intro APR Period
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Regular APR
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Annual Fee
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Balance Transfers
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Credit Needed |
0% on Balance Transfers, Purchases*
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15 Months on Balance Transfers
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11.99% - 20.99%* (V)
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None*
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Yes*
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Excellent Credit*
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Editor's Review:
The Discover® More credit card offers cardholders a cash back rebate on purchases of up to 1%, and an attractive 0% APR on purchases for the first 6 months of membership. The intro 0% APR period applies for a full 15 months on balance transfers, a very attractive feature that establishes it as one of the best balance transfer offers currently available in the marketplace
...more info
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Discover® Motiva(SM) Card |
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- Cash rewards for your good credit management
- Each time you make 6 on-time payments in a row, you'll get a Pay-On-Time Bonus equal to a full month's interest added to your Cashback Bonus account
- 5% to 20% Cashback Bonus at over 150 top retailers through our online shopping mall
- Up to 1% unlimited Cashback Bonus on all other purchases
- 3.99% intro APR on balance transfers for a full 15 months, then the Regular APR
- 3.99% intro APR on purchases for a full 12 months, then the Regular APR
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Intro APR
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Intro APR Period
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Regular APR
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Annual Fee
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Balance Transfers
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Credit Needed |
3.99% on Purchases, Balance Transfers*
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15 Months or 12 Months*
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11.99% - 20.99* (V)
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No*
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Yes*
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Excellent Credit*
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Editor's Review:
The Discover® Motiva(SM) is a credit card that sends rewards your way for making on-time payments and purchases on your card. The card provides an introductory rate of 3.99% for 15 months on balance transfers and 12 months on purchases. The card uses a percentage cash reward system that increases with the amount of purchases you make on the card. The more you spend, the higher the percentage rebate is that you receive back.
...more info
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Looking for more articles and free information on balance transfer credit cards? We've provided more articles, tips, advice and resources on balance transfer offers below: - Basics of Balance Transfers - When completing a balance transfer, the outstanding debt (balance) owed on the cardholder's old credit card is transferred to a new credit card with a lower interest rate, and typically occurs when a customer switches from his existing credit card to a new credit card.
- Maximizing Your Balance Transfer Cards - Balance transfer credit cards happen to be one of the most appealing aspects of the credit card business for consumers. They allow many people to take advantage of much lower interest rates and less finance charges on outstanding card balances but
- Quick Step to Debt Consolidation - For anyone in a great deal of credit card-related debt, balance transfer credit cards can be a quick way to consolidate debts while avoiding heavy interest charges on a number of different cards. However, it's important to remember that a balance transfer credit card carries a built-in time limit...
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*Please be sure to see the specific online
Balance Transfer Credit Card application for additional details about the terms of the specific card
offer that you're interested in. We make a reasonable effort to maintain
informational accuracy. However, all information and any details pertaining to
each credit card presented are done so without warranty.
After clicking on the "Apply Here" button, make sure to review ALL of the
conditions and terms pertaining to that offer on the credit card issuer's web
site. |
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